Blockchain
Galaxy Digital Provides Updated Capital and Liquidity Position
Galaxy Digital Holdings Ltd. (TSX: GLXY) (“Galaxy Digital” or “the Company”), a financial services and investment management innovator in the digital asset, cryptocurrency, and blockchain technology sectors is providing a preliminary quarter-to-date company update, in light of recent market conditions.
The Company believes that the current digital asset and broader market conditions warrant providing shareholders, counterparties, and clients intra-quarter visibility regarding its capital and liquidity position, as well as its operating resilience. The Company’s treasury does not utilize algorithmic stablecoins.
The Company remains in a strong capital and liquidity position and is well-positioned for long-term growth. The Company will continue to manage the pace of investment to consider the macroeconomic backdrop as it has throughout its history, and our experienced management team continues to believe there are significant opportunities for Galaxy Digital as we navigate current market conditions.
- The company has a liquidity position of approximately $1.6 billion, including $800 million in cash and over $800 million in net digital assets, with the majority of net digital assets in non-algorithmic stablecoins.
- Quarter-to-date Net comprehensive income is expected to be a loss of approximately $300 million, bringing Partners’ Capital to $2.2 billion, a decline of 12% versus March 31, 2022.
- In comparison, since March 31, 2022, total cryptocurrency market capitalization has decreased approximately 40% to $1.2 trillion.
- The Company will continue to invest in our long-term growth strategy while considering the current macroeconomic backdrop, including:
- Launching new Asset Management funds;
- Scaling proprietary bitcoin mining and the ability to serve as a key advisor to ecosystem players;
- Expanding our lending portfolio and meeting the rapidly-growing trading liquidity demand;
- Adding engineering and other headcount to support growth plans in a scaled manner; and;
- Investing in technology and product acquisitions.
- The Company reconfirms the previously-stated commentary that Galaxy Digital Trading (“GDT”) experienced no operational or execution-related disruptions. GDT counterparty loan and yield portfolio has continued to experience zero defaults, credit degradations or liquidations. Moreover, average collateralization levels remain well-over 100%
Blockchain
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Blockchain
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Blockchain
DeFi Technologies’ Wholly-Owned Subsidiary Valour Inc., Bitcoin Suisse AG, and STOXX Launch the 1Valour STOXX Bitcoin Suisse Digital Asset Blue Chip ETP
DeFi Technologies Inc. (the “Company” or “DeFi Technologies”) (NEO: DEFI) (GR: MB9) (OTC: DEFTF), a crypto native technology company that pioneers the convergence of traditional capital markets with the world of decentralised finance (“DeFi”), is pleased to announce that its subsidiary, Valour Inc. (“Valour”), a leading issuer of exchange traded products (“ETPs”) that provide simplified access to digital assets, has partnered with Bitcoin Suisse AG, and STOXX in launching the innovative 1Valour STOXX Bitcoin Suisse Digital Asset Blue Chip ETP. This pioneering product marks a significant step forward in the digital asset market, providing a diversified investment approach to the top blue-chip digital assets in a simple and secure manner.
This new ETP is built upon the existing partnership between Valour and Bitcoin Suisse AG (“Bitcoin Suisse”), initially formed to develop Exchange Traded Products (ETPs) backed 1:1 by digital assets. This collaboration has been leveraging the unique capabilities and extensive expertise of both Valour and Bitcoin Suisse in the digital asset market. The primary focus of their joint efforts is to launch, list, operate, and distribute ETPs in both the international and Swiss markets. Swiss crypto-finance and technology pioneer Bitcoin Suisse, with its established brand recognition in the crypto assets sector, complements Valour’s role as an issuer of ETPs and provider of an exchange listing platform for digital assets.
Andrej Majcen, Chief Executive Officer of Bitcoin Suisse, commented “With this index based ETP, we are excited to be able to offer the possibility to passively diversify into the digital asset market. Our goal is to enable investors to make more informed investment decisions by providing them with professional tools in a maturing market. The Blue-Chip Index is derived methodically from a systematic rule set, making digital asset selection for portfolio diversification more accessible and less complex. Once more, Bitcoin Suisse continues to demonstrate its strength as a pioneer by delivering the first leading smart beta investment product for digital assets. With a rule based asset selection, the Blue-Chip Index is Europe’s first investment alternative to pure top market cap crypto asset strategies. We are proud to collaborate with well established and trusted partners in the global financial markets for the launch of this innovative product.“
The 1Valour STOXX Bitcoin Suisse Digital Asset Blue Chip ETP is uniquely structured to track the performance of the STOXX Digital Asset Blue Chip X Index. This index offers exposure to leading assets within the broader STOXX Digital Asset Blue Chip Index, specifically those trading on Xetra. The ETP employs a rule-based passive index methodology, meticulously designed to encompass a comprehensive spectrum of the cryptocurrency market.
Assets are classified into sectors such as Cryptocurrency, General Purpose Smart Contract Platform, Decentralized Finance (DeFi), Utility, and Culture, using the Bitcoin Suisse Global Crypto Taxonomy (GCT). The selection of assets is based on a rigorous multi-step process aimed at identifying the most influential and representative assets in each sector. This selection is re-evaluated quarterly, ensuring the ETP remains reflective of the dynamic digital asset market.
“With a maximum weighting limit of 30% for each underlying crypto, the new 1Valour STOXX Bitcoin Suisse Digital Asset Blue Chip ETP serves as the perfect tool for entering the crypto world with just one position in your portfolio,” adds Marco Infuso, Chief Sales Officer at Valour. “It can be used as a kind of satellite approach in an institutional portfolio and is ideal as a monthly savings plan solution for retail customers.”
This ETP is the result of a synergistic collaboration between Valour, Bitcoin Suisse, and STOXX, each bringing unique strengths to the table. Valour provides its proven expertise in ETP issuance, Bitcoin Suisse offers its deep-rooted experience in the crypto-finance and technology domain, and STOXX contributes its renowned capabilities in index creation and management.
The post DeFi Technologies’ Wholly-Owned Subsidiary Valour Inc., Bitcoin Suisse AG, and STOXX Launch the 1Valour STOXX Bitcoin Suisse Digital Asset Blue Chip ETP appeared first on HIPTHER Alerts.
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